August inflation: blame energy
<p><strong>Yesterday’s inflation printed at 3.7%, a second month of rising prices</strong> which was widely expected due to cuts in the global oil supply. The table below presents US Consumer Price Index, CPI, for August</p>
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<p>We see the <strong>Transportation Services and Shelter sectors came in very hot,</strong> increasing 10.3% Year on Year (YoY) and 7.3% YoY respectively. <strong>Food printed only slightly higher</strong> <strong>than the overall CPI </strong>at 4.3% YoY. And encouragingly we see <strong>five other sectors printing below the headline CPI number.</strong> But what drove Transportation Services inflation so high? The table below presents this sector into its three components</p>
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<p>Where we see <strong>the biggest contributor was a 19.1% YoY increase in motor vehicle insurance.</strong> While there are many theories explaining this jump</p>
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